News you can rely on – Financial Discussions

SANTA MONICA, CA, United States, via ETELIGIS INC., 05/06/2015 – – PearTrack Security Systems, Inc. (OTCQB: PTSS) ("PearTrack"), today announced it has completed development of “Codeloxx,” the Company’s remote micro-controller controlled locking system that will be integrated into the patented PearLoxx container lock and the PearTrack GPS tracking and monitoring platform.

Codeloxx is operated by a micro-controller based lock control circuit, and is able to accept either remote open commands via the PearTrack system or a 5-digit code, which is input via a single button and LED combination. The deadlock bolt is operated using a motor driven gear/rack and, once the deadbolt is retracted, a user can manually operate the lock. When the lock is open, a “Lock Open” status is signaled via the PearTrack tracking unit, and re-locking is automatically inhibited to prevent jamming.

PearTrack CTO, John Macey stated, “The completion of the Codeloxx system will allow the Company to move one step closer to producing and testing its first PearLoxx tracking system prototype.” John adds, “My unit, the PearTrack Research and Development Department, is looking to finish the production and testing of the first PearLoxx prototype for delivery to the Company early in the 3rd quarter. Successful test results will lead to the PearLoxx system being ready for full-scale production”.

According to industry analyst, Berg Insight, the maritime security market is estimated to grow from $13.94 billion in 2014 to $20.87 billion in 2019. This represents a compound annual growth rate of 8.4% from 2014 to 2019. The vessel security segment continues to be the largest contributor for maritime security. In terms of regions, North America is expected to be the biggest market in terms of revenue contribution in 2014, whereas Asia Pacific is expected to experience rapid market growth.

About PearTrack Security Systems, Inc.:

Headquartered in Santa Monica, CA, PearTrack Security Systems, Inc. (PTSS), is a holding company with wholly owned subsidiaries, including PearTrack Systems Group, Limited. This innovative company has developed, manufactured and commercialized a GPS tracking system, as well as devices that target non-powered assets with proprietary long life battery systems. The Company is currently enhancing its GPS tracking products, specifically assessing the areas of growth in M2M Telematics and Remote/Mobile Asset Tracking and Management, with particular emphasis on the intermodal container market.